A man passes a Hewlett Packard screen at a technology conference
Jim Young | Reuters
Check out which companies are making the headlines in midday trading.
HP – Berkshire Hathaway, Warren Buffett Become the largest shareholder In the computer hardware company, shares rose 16.4%. Berkshire Hathaway bought approximately 121 million shares, or about 11% of the stock, worth approximately $4.2 billion based on Wednesday’s close.
Lamb Weston Holdings Shares rose 6.2% after the food manufacturer reported quarterly earnings. Lamb Weston reported earnings of 73 cents per share, topping the consensus estimate of 44 cents. It reported $955 million in revenue, compared to analyst estimates of $969 million.
Constellation brands – The stock jumped 4.3% after the beer, wine and spirits producer mentioned win profits. Constellation reported earnings of $2.37 per share on revenue of $2.1 billion. Analysts had expected earnings of $2.10 per share and revenue of $2.02 billion.
JD.com News that founder Richard Liu has resigned as CEO sent shares down 4%. Liu will remain in the position of president. Company President Xu Lei will take over as CEO.
Levi Strauss Stocks down about 5% despite Levi’s Inc Quarterly report better than expected. The jeans manufacturer reported quarterly earnings of 46 cents per share and revenue of $1.59 billion. Analysts looked for earnings of 42 cents per share on revenue of $1.55 billion. Levy said supply chain restrictions have hurt sales by about $60 million recently.
CDK Global – Shares jumped 11.4% after the auto retail technology provider agreed to be acquired by Brookfield Business Partners in a $8.3 billion deal. CDK Global shareholders will receive $54.87 per share in cash, which is a 12% increase over CDK’s closing price on Wednesday.
stronghold – The automaker is down 5.2% after that Barclays downgraded Ford’s rating To equal the weight of the overweight. Barclays said in a note to customers that the continuing shortage of semiconductors will prevent Ford from rebounding from a difficult start into 2022.
CNBC’s Hana Miu and Jesse Pound contributed to the report.
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